The company has generated zero revenue over the last ten quarters, resulting in consistent quarterly operating losses that have ranged between $5.2 million and $7.6 million.
| Sales/Revenue | 0 | 0 | 0 | 0 | 3.11M | 12.29M | 4.31M | 0 | 23.07M | 14.66M | 36.43M | 33.6M | 45.63M |
| Revenue Growth % | - | - | - | -100% | -74.67% | 185.26% | - | -100% | 57.37% | -59.77% | 8.43% | -26.36% | - |
| Cost of Goods Sold | 116K | 240K | 352K | 0 | 0 | 0 | 17.85M | 2.23M | 11.21M | 5.01M | 24.18M | 16.93M | 16.25M |
| COGS % of Revenue | - | - | - | - | - | - | 414.3% | - | 48.61% | 34.18% | 66.37% | 50.39% | 35.62% |
| Gross Profit | -116K | -240K | -352K | 0 | 3.11M | 12.29M | -13.54M | -2.23M | 11.85M | 9.65M | 12.25M | 16.67M | 29.38M |
| Gross Margin % | - | - | - | - | 100% | 100% | -314.3% | - | 51.39% | 65.82% | 33.63% | 49.61% | 64.38% |
| Gross Profit Growth % | - | 31.82% | - | -100% | -74.67% | 190.76% | -505.95% | -118.86% | 22.85% | -21.25% | -26.49% | -43.26% | - |
| Operating Expenses | 26.55M | 26.07M | 24.25M | 28.88M | 31.75M | 33.69M | 13.95M | 38.73M | 63.52M | 63.6M | 68.18M | 77.77M | 80.87M |
| OpEx % of Revenue | - | - | - | - | 1019.75% | 274.1% | 323.76% | - | 275.36% | 433.87% | 187.14% | 231.45% | 177.22% |
| Selling, General & Admin | 11.84M | 11.77M | 10.22M | 11.77M | 13.87M | 14.7M | 13.95M | 13.96M | 28.13M | 34.58M | 38.67M | 43.04M | 34.28M |
| SG&A % of Revenue | - | - | - | - | 445.5% | 119.57% | 323.76% | - | 121.96% | 235.88% | 106.13% | 128.1% | 75.12% |
| Research & Development | 14.8M | 14.54M | 14.38M | 17.11M | 17.88M | 18.99M | 17.85M | 24.76M | 35.38M | 29.02M | 29.52M | 34.73M | 46.59M |
| R&D % of Revenue | - | - | - | - | 574.25% | 154.52% | 414.3% | - | 153.4% | 197.99% | 81.02% | 103.35% | 102.1% |
| Other Operating Expenses | -81K | -240K | -352K | 0 | 0 | 0 | -17.85M | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -26.67M | -26.31M | -24.6M | -28.88M | -28.64M | -21.4M | -27.49M | -40.96M | -51.66M | -53.95M | -126.94M | -61.1M | -51.49M |
| Operating Margin % | - | - | - | - | -919.75% | -174.1% | -638.06% | - | -223.98% | -368.05% | -348.42% | -181.84% | -112.84% |
| Operating Income Growth % | - | -6.95% | 14.81% | -0.83% | -33.84% | 22.16% | 32.88% | 20.72% | 4.23% | 57.5% | -107.77% | -18.66% | - |
| EBITDA | -26.45M | -26.07M | -24.25M | -28.31M | -27.74M | -20.26M | -26.19M | -38.73M | -49.27M | -51.65M | -125.05M | -58.19M | -49.47M |
| EBITDA Margin % | - | - | - | - | -890.82% | -164.79% | -607.75% | - | -213.62% | -352.36% | -343.21% | -173.19% | -108.42% |
| EBITDA Growth % | -11.19% | -7.51% | 14.34% | -2.06% | -36.95% | 22.65% | 32.38% | 21.41% | 4.6% | 58.7% | -114.88% | -17.63% | - |
| D&A (Non-Cash Add-back) | 214K | 240K | 352K | 567K | 901K | 1.14M | 1.31M | 2.23M | 2.39M | 2.3M | 1.9M | 2.91M | 2.02M |
| EBIT | -26.61M | -26.31M | -24.13M | -28.88M | -28.64M | -21.4M | -27.49M | -43.06M | -51.66M | -53.95M | -67.76M | -61.1M | -51.49M |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 413K | 345K | 472K | 10.23M | 35.66M | -8.01M | -3.43M | -2.1M | -2.02M | -1.94M | -12.64M | -237K | -222K |
| Pretax Income | -26.26M | -25.97M | -24.13M | -18.65M | 7.01M | -29.41M | -30.92M | -43.06M | -53.69M | -55.89M | -127.75M | -61.34M | -51.71M |
| Pretax Margin % | - | - | - | - | 225.24% | -239.25% | -717.64% | - | -232.75% | -381.31% | -350.65% | -182.55% | -113.33% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -23.3M | -15.34M | -2.02M | -599K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 41.69% | 12.01% | 3.29% | 1.16% |
| Net Income | -26.26M | -25.97M | -24.13M | -17.41M | 8.03M | -28.46M | -17.75M | -44.7M | -53.69M | 6.97M | -112.42M | -59.32M | -51.12M |
| Net Margin % | - | - | - | - | 257.77% | -231.51% | -411.93% | - | -232.75% | 47.57% | -308.54% | -176.53% | -112.02% |
| Net Income Growth % | -10.77% | -7.61% | -38.59% | -316.91% | 128.21% | -60.32% | 60.29% | 16.75% | -869.96% | 106.2% | -89.52% | -16.05% | - |
| Net Income (Continuing) | -26.26M | -25.97M | -24.13M | -18.65M | 7.01M | -29.41M | -30.92M | -43.06M | -53.69M | -32.59M | -119.89M | -59.32M | -51.12M |
| Discontinued Operations | 0 | 0 | 0 | 1.24M | 1.01M | 951K | 13.17M | -1.63M | 0 | 39.56M | 7.48M | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -24.75 | -87.27 | -31458.00 | -834044.00 | 921915.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 |
| EPS Growth % | 98.88% | 99.72% | 96.23% | -190.47% | 125.91% | 35.85% | 95.59% | -542.16% | -11.34% | 61.38% | -89.42% | -16.07% | - |
| EPS (Basic) | - | -87.27 | -31458.00 | -834044.00 | 922390.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 |
| Diluted Shares Outstanding | 1.06M | 3.15K | 767 | 21 | 9 | 8 | 6 | 0 | 0 | 0 | 0 | 0 | 0 |
| Basic Shares Outstanding | 1.06M | 3.15K | 767 | 21 | 9 | 8 | 6 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Clinical Trial Funding Gap
As indicated by the company's financial statements over the last ten quarters, Aptevo Therapeutics has generated zero revenue, confirming its status as a pre-commercial entity entirely dependent on sporadic milestone payments or external capital to sustain its ongoing research and development activities and clinical trial operations.
The lack of top-line growth highlights the company's total reliance on the successful progression of its ADAPTIR platform candidates. Without a commercialized product, the revenue trajectory remains binary and tied exclusively to clinical milestones rather than market-driven demand or organic growth.
Based on reported figures, the company maintains a consistent quarterly R&D spend averaging approximately $3.6 million, which represents the primary driver of the firm's cash burn as it advances complex bispecific antibody candidates through early-stage clinical trials without any offsetting commercial product revenue.
The cost structure is inherently rigid, as the specialized manufacturing requirements for bispecific proteins necessitate sustained high R&D investment. Investors should monitor whether this spending level can be maintained given the current cash position, as any reduction in R&D could signal a strategic pivot or a forced delay in clinical timelines.
According to recent SEC filings, Aptevo consistently reports quarterly operating losses ranging between $5.2 million and $7.6 million, demonstrating that the company lacks the operational scale to leverage its fixed cost base while it continues to fund high-intensity clinical development programs for its lead assets.
The absence of gross profit means that every dollar spent on SG&A and R&D flows directly to the bottom line as a loss. This structure implies that the company cannot achieve operating leverage until it secures a major licensing deal or reaches a commercialization stage that provides meaningful, recurring revenue.
As reported in financial statements, the company's EPS figures are heavily distorted by extreme volatility and frequent share count adjustments, which reflect the ongoing necessity of equity-based financing to cover operational deficits rather than any underlying improvement in the firm's core business performance or profitability.
The erratic EPS data is a byproduct of the company's capital-raising activities, which frequently dilute existing shareholders to fund the cash burn. Analysts should prioritize cash-burn metrics over EPS, as the latter is largely an accounting artifact of the company's survival-oriented financing strategy.
With a reported cash position of $21.6 million, the company faces a significant risk of a liquidity shortfall, as the current burn rate suggests that the existing capital may be insufficient to reach the next major clinical readout without further dilutive financing or strategic partnerships.
Short-term viability is highly sensitive to the timing of clinical data, and the market appears to be pricing in the high probability of future equity raises. Investors should remain cautious, as the company's reliance on external funding in a challenging biotech capital market could lead to further erosion of shareholder value.
Quick answers to the most common questions about buying APVO stock.
For fiscal year 2025, Aptevo Therapeutics Inc. (APVO) reported total revenue of $0.0M. This represents a 100.0% decline compared to $45.6M in 2014.
Aptevo Therapeutics Inc. (APVO) reported a net loss of $26.0M for the fiscal year ending 2025.